Authorized To The Executive Body In The Field Of Finance, Signed A Loan Agreement With The Central American Bank For Economic Integration By $100,000,000.00.

Original Language Title: AUTORÍZASE al Órgano Ejecutivo en el ramo de Hacienda, suscribir un Contrato de Préstamo con el Banco Centroamericano de Integración Económica por $100,000,000.00.

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LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR

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DECREE N ° 326

THE LEGISLATIVE ASSEMBLY OF THE REPUBLIC OF EL SALVADOR,

CONSIDERING:

I.-That the Government of the Republic of El Salvador has among its purposes to support the National Civil Police (PNC), in carrying out the execution of the

Special Program of Citizen Security in El Salvador The aim is to strengthen the capacities of the Police Institution in the combat and prosecution of the crime, through interventions that strengthen

the criminal investigation, the operability and the police presence in the whole of El Salvador and the provision of own police infrastructure to guarantee the appropriate conditions for the development of citizen security functions.

II.-That for the achievement of the above, has been managed with the Central American Bank for Economic Integration (BCIE), a Loan Contract by

a AMOUNT OF UP TO ONE HUNDRED MILLION DOLLARS FROM THE UNITED STATES OF AMERICA (US$ 100,000,000.00), for to finance the "Special Program on Citizen Security in El Salvador (PESCES)".

III.-That in consideration of the above and on the basis of the provisions of Art. 148 of the Constitution of the Republic, it is appropriate to authorize the Executive Body in the Ramo de Hacienda, to subscribe to the Loan Contract for

finance the Program mentioned.

BY TANTO,

in use of its Constitutional powers and on the initiative of the President of the Republic, through the Minister

DECRETA:

Art. 1.-Authorize the Executive Body in the Ramo de Hacienda, so that, by means of its holder or the official designated by him, he will subscribe on behalf of the State and Government of the Republic of El Salvador, a loan agreement with the Central American Bank of Economic Integration (BCIE), for the

financing of the "Special Program of Citizen Security in El Salvador (PESCES)", a loan that will be subject to the following conditions and stipulations:

AMOUNT AND CURRENCY OF THE LOAN: Until ONE HUNDRED MILLION DOLLARS FROM THE UNITED STATES OF AMERICA ($100,000,000.00).

LOAN TERM: Twenty (20) years, including up to sixty (60) months of grace period, counted from the date of first disbursement.

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LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR

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AMORTIZATION: Loan capital will be amortized by payment of fees semi-annual, consecutive and in the

possible equals, until the total cancellation of the same, by the amounts and on the dates that the BCIE determines and according to the Schedule of Amorations that the BCIE

communicates.

INTERESTS: A rate set by the BCIE of agreement will be paid

with its interest rate policy. The applicable indicative rate will be LIBOR to six (6) months, semi-annually reviewable, plus a margin of three hundred and seventy

and five (375) basis points (pbs), reviewable quarterly.

DEFAULT CHARGE: Three (3) percentage points additional to the ordinary interest, on the portion of the default obligation, to the date on which the payment is made.

MONITORING and ADMINISTRATION COMMISSION: A quarter of one percent flat rate

(¼ of 1%) will be paid on the amount of the loan, payable by

only once at the latest at the time of the first disbursement and discounting it.

COMMITMENT COMMISSION: Will be paid a quarter (¼) rate of one percent (1%) per year, calculated on the undisbursed balances of the Loan, as of the date of

entry into force of the Loan Contract.

DESTINATION: Financing the execution of the " Program Special

Citizen Security in El Salvador (PESCES) ".

Art. 2.-The Loan Agreement signed by the Government of the Republic of El Salvador with the

Central American Bank for Economic Integration (BCIE), in accordance with this Decree, shall be submitted to the approval of this Assembly. Legislative for its validity.

Art. 3.-This Decree shall enter into force from the day of its publication in the Official Journal.

GIVEN IN THE BLUE HALL OF THE LEGISLATIVE PALACE: San Salvador, at the seven days of the month of April of the year two thousand sixteen.

LORENA GUADALUPE PEÑA MENDOZA, PRESIDENT.

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GUILLERMO ANTONIO GALLEGOS NAVARRETE, ANA VILMA ALMASEZ DE ESCOBAR, FIRST VICE PRESIDENT. SECOND VICE-PRESIDENT.

JOSÉ SERAFIN ORANTES RODRÍGUEZ, NORMAN NOEL QUIJANO GONZÁLEZ, THIRD VICE-PRESIDENT. FOURTH VICE-PRESIDENT.

SANTIAGO FLORES ALFARO, FIFTH VICE PRESIDENT.

GUILLERMO FRANCISCO MATA BENNETT, DAVID ERNESTO REYES MOLINA, FIRST SECRETARY. SECOND SECRETARY.

MARIO ALBERTO TENORIO GUERRERO, REYNALDO ANTONIO LÓPEZ CARDOZA, THIRD SECRETARY. FOURTH SECRETARY.

JACKELINE NOEMI RIVERA AVALOS, JORGE ALBERTO ESCOBAR BERNAL, FIFTH SECRETARY. SIXTH SECRETARY.

ABILIO ORESTES RODRÍGUEZ MENJÍVAR, JOSÉ FRANCISCO MERINO LÓPEZ, SEVENTH SECRETARY. EIGHTH SECRETARY.

CASA PRESIDENTIAL: San Salvador, at the twentieth day of the month of April of the year two thousand sixteen.

PUBESLOSE,

Salvador Sánchez Cerén, President of the Republic.

Juan Ramón Carlos Enrique Cáceres Chávez,

Minister of Finance.

D. O. N ° 72 Tomo N ° 411 Date: 20 April 2016

SV/pch 11-05-2016

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